The Biofore company UPM has launched a new solution for the thin print market. The revolutionary paper, UPM EcoLite, has been specially designed to meet the needs of customers printing pharmaceutical leaflets and religious literature as well as user manuals and instructions. By choosing this new paper, UPM's customers will benefit from significant cost savings compared to a conventional paper solution. "The product is a result of extensive R&D work at Kaipola mill in Finland. The name, UPM EcoLite, says it all: In addition to being an ecological choice, it offers our customers an economical option without compromising on the reading experience or folding properties of the paper," stated Joonas Järvinen, New Business Development Manager, News and Retail at UPM. UPM EcoLite is available in 29, 32, 34 and 38 g/m2. A lighter paper equals a smaller environmental footprint as it requires fewer raw materials, less water and less energy to produce and transport. Click Read More below for additional detail.
Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $99 million ($1.57 per share) for the third quarter of 2018 compared to net earnings of $43 million ($0.68 per share) for the second quarter of 2018 and net earnings of $70 million ($1.11 per share) for the third quarter of 2017. Sales for the third quarter of 2018 were $1.4 billion.
Excluding items listed below, the Company had earnings before items1 of $92 million ($1.46 per share) for the third quarter of 2018 compared to earnings before items1 of $41 million ($0.65 per share) for the second quarter of 2018 and earnings before items1 of $65 million ($1.03 per share) for the third quarter of 2017.
“Our strong performance was driven by accelerating price realizations and margin expansion, particularly, within our Pulp and Paper businesses. Our operations also ran exceptionally well, despite some weather-related outages, with productivity gains across the mill system,” said John D. Williams, President and Chief Executive Officer. “We have strong momentum to close the year on a high note, and the confidence that our Pulp and Paper businesses will enter 2019 in the best position in recent years.”
Commenting on Personal Care, Mr. Williams added, “Escalating raw material costs continue to compress our margins in adult incontinence and baby diapers. As a result, we are accelerating the pace of actions that will improve margins and EBITDA, with a plan that is expected to generate annual benefits of approximately $25 to 30 million, with full effect by the end of 2020. This will include headcount reductions, the permanent closure of our Waco, Texas facility, and commercial and operational initiatives. The sum of these actions will reduce our cost base and strengthen our long-term competitive position.”
Operating income was $114 million in the third quarter of 2018 compared to operating income of $62 million in the second quarter of 2018. Depreciation and amortization totaled $75 million in the third quarter of 2018.
Operating income before items1 was $114 million in the third quarter of 2018 compared to an operating income before items1 of $59 million in the second quarter of 2018.
The increase in operating income in the third quarter of 2018 was the result of higher average selling prices for pulp and paper, lower maintenance costs, favorable productivity, lower raw material costs and selling, general and administrative expenses. These factors were partially offset by lower volume, higher freight and other costs.
When compared to the second quarter of 2018, manufactured paper shipments were down 4% and pulp shipments increased 3%. The shipments-to-production ratio for paper was 98% in the third quarter of 2018, compared to 102% in the second quarter of 2018. Paper inventories increased by 17,000 tons, and pulp inventories increased by 17,000 metric tons when compared to the second quarter of 2018.
more detail at: https://domtar.gcs-web.com/news-releases/news-release-details/domtar-corporation-reports-preliminary-third-quarter-2018